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If there were worries about future growth in demand for the next generation of smartphones, City investors were inclined to give ARM Holdings the benefit of the doubt, for yesterday anyway.

Shares in the FTSE 100 chip designer jumped by nearly 6 per cent after the Cambridge company, which still supplies components for more than 95 per cent of the world’s smartphones, beat analysts’ half-year forecasts.

The company signed 41 new licences for smartphones and chips for other devices during the latest three-month period as interim revenues in the first six months of the year rose 9 per cent to